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Australian shares are heading for a green Friday to close out the first half of the trading year, buoyed by Wall Street marching on towards all-time highs.
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The trend-setting S&P 500 and Nasdaq composite both rallied to just below their ATHs across in the U.S. at close today; the Nasdaq led the way with an energised +1% hike while the S&P and Dow Jones both advanced around +0.9%.
Just as Nvidia’s comeback was crowned with ATH highs yesterday, global traders are turning bullish as U.S. equities – especially energy – mount a $15 trillion turnaround.
Back home, that bullish sentiment has been supercharged with the IPO market roaring back to life through Weeks 25 and 26 – and the float surge is to roll on with La Trobe Private Credit and Linq Minerals arriving today.
La Trobe – tipped to be a big one by myself and fellow HotCopper writer Jonathon Davidson on the HotCopper Wire podcast some weeks ago – is looking to raise $300 million. It will list under ticker code “LF1” at $2 a share.
Linq is coming in a little cheaper, at 20cps, with the mineral explorer joining the Oz bourse under ticker code “LNQ” and chasing $10 million in capital.
Watch ASX miners today too, after Port Headland recorded record volumes in May.
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Looking at forex, the Aussie dollar is 65.4 US cents.
And to commodities, all in the greenback,
Iron Ore will end the week +0.8% higher at $93.55 a tonne in Singapore,
Brent Crude is at $67.91,
Gold is at $3,324 per ounce, and,
US natgas futures are at -1.4% lower at $3.51 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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